Duane Reade, the New York City drug store mainstay that’s been updating its image over the past year, has announced that a new 8,500-square-foot location at 200 Water Street will be the first store to feature its new, remodeled interior. The drug store reportedly chose the location in part because of the influx of renters in the region, as 15 new residential buildings have cropped up in the Financial District in the last four years, according to Patricia Dunphy, senior vice president of Rockrose Development, which owns the 200 Water Street building. Duane Reade plans to re-brand 100 of its 253 locations in the city this year, adding better-lit, wider aisles and new interior fixtures.
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The three Elghanayan brothers, from left: Thomas, Henry and Frederick

The former heads of residential giant Rockrose Development have finalized the details of their split, the two companies confirmed today, ending months of speculation about how the Elghanayan brothers would divide their real estate empire. H. Henry Elghanayan, the oldest of the brothers, who is keeping the Rockrose name, is now doing business at 666 Fifth Avenue, according to a statement released by Rockrose. He will retain some 2,600 apartment units and a 60,000-square-foot development site across from the Javits Center, Rockrose said, and will be developing “three strategic sites” in Long Island City. [more]